Why the enterprise is key to growth in the Internet of Things

Why the enterprise is key to growth in the Internet of Things
IoT News is a practical resource providing news, analysis and opinion on the burgeoning Internet of Things ecosystem, from standardisation, to business use cases, and development opportunities. We take the best research and put our own spin on it, report from the frontline of the industry, as well as feature contributions from companies at the heart of this revolution.

(c)iStock.com/Danil Melekhin

According to the latest IDC figures, 73% of decision makers polled said they had already installed or planned to install IoT solutions within the next year.

58% of the 2,500 respondents, across 15 countries, argue that the IoT is of strategic importance, with the most important industries being healthcare (72%), transportation (67%) and manufacturing (66%). Just under a quarter (24%) of all respondents view the IoT as capable of bringing disruption and massive change. Government was placed last terms of overall awareness, inferring the industry needs education on IoT basics.

The survey provides insight on regional differences with regard to awareness, adoption, and plans for implementation. The retail and manufacturing industries are displaying growth in IoT awareness, with 56% and 53%, respectively, revealing a heightened awareness of IoT.

Costs – upfront and ongoing – are at the top of the constraints list, though security is among the foremost challenges. Software vendors have gone past hardware vendors, who were the leaders before, in 2015. The retail sector possesses latent potential and should come into focus now or over the next two years, according to the report. One of the main challenges to IoT architecture design is IoT processing at the edge of the network.

The enterprise segment is key to the growth of the IoT with regard to connected endpoints and spending. Vernon Turner, senior vice president and research fellow  for the Internet of Things, said: “IoT momentum continues to grow and our survey shows that it is seen as strategic to the enterprise.”

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